Discovery Communications (NASDAQ:DISCA)‘s stock had its “in-line” rating reaffirmed by research analysts at Imperial Capital in a report released on Wednesday. They currently have a $30.00 price target on the stock, down from their prior price target of $31.00. Imperial Capital’s price target suggests a potential upside of 13.08% from the company’s previous close. Imperial Capital also issued estimates for Discovery Communications’ FY2019 earnings at $2.59 EPS, Q1 2020 earnings at $0.69 EPS, Q3 2020 earnings at $0.83 EPS and FY2020 earnings at $3.37 EPS.
Other equities analysts have also issued reports about the stock. Barclays set a $27.00 target price on shares of Discovery Communications and gave the stock an “equal weight” rating in a research report on Friday, October 26th. MKM Partners lifted their price objective on shares of Discovery Communications from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, November 14th. Macquarie set a $38.00 price objective on shares of Discovery Communications and gave the company a “buy” rating in a report on Friday, September 14th. Bank of America lifted their price objective on shares of Discovery Communications from $30.00 to $35.50 and gave the company a “buy” rating in a report on Thursday, September 13th. Finally, ValuEngine raised shares of Discovery Communications from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $32.38.
Shares of NASDAQ:DISCA opened at $26.53 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.61. Discovery Communications has a 12 month low of $20.59 and a 12 month high of $34.89. The stock has a market capitalization of $14.28 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 0.29 and a beta of 1.35.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data on Thursday, November 8th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.10). The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.60 billion. Discovery Communications had a positive return on equity of 17.05% and a negative net margin of 8.52%. The firm’s revenue for the quarter was up 57.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 EPS. On average, sell-side analysts forecast that Discovery Communications will post 2.67 earnings per share for the current year.
In related news, Director Kenneth W. Lowe sold 58,000 shares of the company’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $28.88, for a total transaction of $1,675,040.00. Following the completion of the sale, the director now owns 1,236,060 shares of the company’s stock, valued at approximately $35,697,412.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David Leavy sold 39,278 shares of the company’s stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $31.65, for a total transaction of $1,243,148.70. The disclosure for this sale can be found here. Insiders have sold 147,278 shares of company stock valued at $4,391,689 in the last three months. Corporate insiders own 6.73% of the company’s stock.
A number of large investors have recently bought and sold shares of DISCA. Vanguard Group Inc. lifted its holdings in shares of Discovery Communications by 199.5% in the 3rd quarter. Vanguard Group Inc. now owns 50,745,309 shares of the company’s stock worth $1,541,300,000 after acquiring an additional 33,804,647 shares during the last quarter. FMR LLC lifted its holdings in shares of Discovery Communications by 7.6% in the 3rd quarter. FMR LLC now owns 11,974,666 shares of the company’s stock worth $383,189,000 after acquiring an additional 841,302 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Discovery Communications by 928.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 683,899 shares of the company’s stock worth $21,885,000 after acquiring an additional 617,398 shares during the last quarter. Man Group plc lifted its holdings in shares of Discovery Communications by 199.3% in the 3rd quarter. Man Group plc now owns 749,403 shares of the company’s stock worth $23,980,000 after acquiring an additional 499,007 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Discovery Communications by 68.7% in the 2nd quarter. Schroder Investment Management Group now owns 1,056,200 shares of the company’s stock worth $30,080,000 after acquiring an additional 430,300 shares during the last quarter. Institutional investors own 35.30% of the company’s stock.
About Discovery Communications
Discovery, Inc operates as a media company worldwide. The company operates through U.S. Networks, International Networks, and Education and Other segments. It owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, Velocity, Discovery Family Channel, Destination America, American Heroes Channel, Discovery Life, The Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.
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